During an economic​ crisis, the average value of homes in a community of 36 homes lost ​$9589 with a standard deviation of $1450. The average home value in the region lost ​$9060. Was this community of 36 homes​ unusual? Use a​ t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance α=0.05.

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Q: Assume that the average length of some wire is 52 inches with a standard deviation of 6.5 inches. At…

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Q: What proportion of skiers will finish the race in exactly one minute?

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Q: The cost of repairs for a fleet of motorcycles follows a normal distribution, with a monthly average…

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Q: the Empirical Rule. The mean speed of a sample of vehicles along a stretch of highway is 70 miles…

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Q: It is determined that the amount of water in a bottle made by this company is normally distributed…

A: Given that, Mean = 12 Standard deviation = 0.06

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.